In the era of digital transformation, hyper-automation has emerged as a game-changer. As businesses strive to stay competitive, the adoption of advanced technologies such as Artificial Intelligence (AI), Machine Learning (ML), and Robotic Process Automation (RPA) is accelerating at an unprecedented rate.
However, the impact of this technological revolution on job creation and retention is a subject of intense debate among business executives. This article aims to shed light on this critical issue, leveraging data and insights from credible sources.
Hyper-Automation will continue to grow
Hyper-automation, a term coined by Gartner, refers to applying advanced technologies, including AI and ML, to automate complex business processes. According to Gartner’s 2020 report, hyper-automation is the top strategic technology trend, with the global RPA market projected to reach $2.9 billion by 2021.
Is Hyper-Automation taking away jobs?
Contrary to popular belief, hyper-automation is not a job killer but a creator. A study by the World Economic Forum (WEF) predicts that by 2025, automation will create 12 million more jobs than it will displace. This is because hyper-automation while automating routine tasks, opens up opportunities for new roles that require human skills such as critical thinking, creativity, and emotional intelligence.
Here are some ways these technologies are creating new jobs:
- **Data Analysis and Interpretation**: As businesses increasingly rely on data to drive decision-making, there is a growing demand for professionals who can analyze and interpret this data. Roles such as data analysts, data scientists, and business intelligence analysts are becoming more prevalent.
- **AI and ML Specialists**: The rise of hyper-automation has led to an increased demand for AI and ML specialists. These professionals design, implement, and manage AI and ML systems, which drive business efficiency and growth.
- **Process Improvement Managers**: Process mining has created roles focused on improving business processes. Process improvement managers analyze business processes, identify inefficiencies, and implement improvements.
- **Automation Architects**: Automation architects design and implement automation systems, playing a crucial role in hyper-automation. They work closely with other IT professionals to ensure that automation systems are effectively integrated into business operations.
Creating stable, skilled labor
While hyper-automation creates new jobs, it also necessitates shifting the existing workforce’s skill set. According to a McKinsey report, by 2030, up to 375 million workers globally will need to switch occupational categories due to automation. Therefore, businesses must invest in upskilling and reskilling their workforce to retain talent and maintain operational efficiency.
Jobs are changing, but not being taken away
Hyper-automation is not a threat but an opportunity for businesses to innovate, improve efficiency, and create new jobs. However, to harness its full potential, businesses must proactively manage the transition, invest in workforce development, and leverage tools like process mining to guide their automation journey.
As we navigate the digital era, Satya Nadella, CEO of Microsoft, rings true: “The true test of success for AI will be in its ability to create more jobs than it destroys.” And as the data suggests, we are on the right path.
Sources:
- Gartner (2020). Top Strategic Technology Trends for 2020.
- World Economic Forum (2020). The Future of Jobs Report 2020.
- McKinsey Global Institute (2017). Jobs lost, jobs gained: What the future of work will mean for jobs, skills, and wages.